Agriculture Minister Kurasala Kanna Babu has said the State government has set a turnover target of ₹30,000 crore for APCOB (Andhra Pradesh State Cooperative Bank) for the current financial year.
The Minister participated in the bank foundation day celebrations on Thursday.
He said it was heartening to note that APCOB turnover touched ₹21,000 crore last year. For the last two years, the State government had been trying to bring in changes in the cooperative sector. A Human Resources (HR) policy was prepared for the Primary Agricultural Cooperative Societies (PACS) in the State. A proposal was sent to the Central government to take forward the PACS computerisation project.
Stating that misuse of funds to the extent of ₹23 crore took place in a cooperative society, the Minister stressed the need to take corrective measures and see that such incidents did not recur. Teamwork could be seen in the functioning of APCOB, and there were chances that it would become a model bank in future. The bank needed to diversify its activities, he added.
Principal Secretary (Agriculture, Marketing and Cooperation) Y. Madhusudhan Reddy, NABARD Chief General Manager Sudheer Kumar Jennavar and others spoke.
